You’re probably wondering why we are bringing up the 1970s economy in 2022. It’s because many economists see the United States possibly going down a very similar path that could result in another recession.
Instead of risking your retirement savings on individual stocks due to overconfidence and fear of missing out, it’s important to take action to protect your money against future economic hardships.
Many people are investing in digital currency with the belief that it is safe from government overreach and economic trouble. Although cryptocurrencies operate independently from third parties through their own trusted technologies, that does not mean that governments cannot indirectly affect your investments in them. They can still heavily tax your investment, penalize you for them, and restrict your access to them in some form. Bitcoin can be a good investment if you go into it with an informed mindset, and a dangerous one if you don’t.